Indian rating agency Moody’s raises India’s economic growth forecast to 8% for FY24 from 6.6% on the back of strong domestic consumption and capital expenditure by the government. On Wednesday, RBI governor Shaktikanta Das said the real GDP growth likely to exceed the government’s second advance estimate of 7.6%. India will be the fastest-growing economy among major G20 countries. The Union Cabinet on Thursday approved the decision to hike dearness allowance by 4 percent ahead of the 2024 Lok Sabha elections.